Historic Auction of Iwata Family Treasures Raises Over 2.38 Billion Yen

On February 21, 2026, the Iwata family’s special collection was showcased in a thrilling auction held at Tokyo's Ariake area, organized by Mainichi Auction. This event highlighted numerous significant artworks that have been cherished by the Iwata family over generations. The total auction proceeds reached approximately 2.38 billion yen (including fees), with an astonishing highest bid of 920 million yen, marking a monumental moment in the world of fine art.

The auction featured a remarkable total of 306 items, all of which sold successfully, underscoring the historical value of the objects. In the days leading up to the auction, preview events welcomed a large number of visitors from across the nation, and on auction day, seats filled rapidly, creating a bustling atmosphere. As bidding escalated, the excitement in the room surged, making it a rare and exhilarating auction experience where bidders participated through in-person, phone, and live bidding platforms.

The thrill of the auction commenced with Lot 1, featuring the important artwork “Daimyo Treasure: Akane-ya Persimmon Tea Caddy,” setting the stage for a fervent bidding war. High-value items included “Ido Teacup—a trademark of Tokiwabune,” which fetched over 310 million yen, and the “Kuro-Oribe Teacup” that stirred reactions with a winning bid of over 120 million yen. Bidders from the Chinese region also demonstrated their strong enthusiasm, particularly evident during the Spring Festival.

Other noteworthy auction results included ten pieces of “Oribe Open Fan Plate” surpassing 10 million yen, alongside historical pieces like the “Bamboo-Patterned Tea Scoop” estimated at 4.37 million yen, which exceeded expectations significantly. Another stunning highlight involved the “Myo-ki-an Tea Scoop” attributed to Sen no Rikyuu, selling for an impressive 71.3 million yen, reflecting the high value and respect held for these cultural artifacts.

Selected Auction Results

- First Generation Raku Jōjirō: Important Artwork “Black Teacup, Named Kangyo” (Sold for 920 million yen)
- Ido Teacup, named Tokiwabune (Sold for 310.5 million yen)
- Important Artwork Akane-ya Persimmon Tea Caddy (Sold for 98.9 million yen)
- Ningyo Celadon Glazed Immortal Vessel (Sold for 95.45 million yen)
- Fujiwara Toshinari: Important Artwork “Eisō (Sumiyoshi Cutting)” (Sold for 17.825 million yen)
- Oribe Open Fan Plate (10 pieces) (Sold for 13.225 million yen)

The remarkable auction witnessed an incredible highlights in the form of the First Generation Raku Jōjirō's “Black Teacup, Named Kangyo,” a work long lost to history, which created intense moments even late into the evening. Despite the late hour, the venue remained packed with guests, all eagerly anticipating the final bid. Amid fierce competition involving both venue and phone bidders, the hammer finally fell at 920 million yen, reaching a fever pitch of excitement in the room.

Following this auction, the “Iwata Family Special Collection” marks a rare occasion, being the first substantial grouping of the Iwata family’s tea ceremony items to appear in the market. This event is considered a landmark in the marketplace for tea ceramics and antique arts, symbolizing the highly sought-after items in the latter half of the 2020s.

Rather than driven by speculative frenzy, the auction illustrated a strong demand for quality works with verified provenance, irrespective of category or price range. This event truly showcased the deep affection that tea lovers hold toward their ceremonial tools, and it was an honor to contribute to the continued flourishing of tea culture through this auction.

About Mainichi Auction

Founded in 1973, Mainichi Auction operates with the vision of bridging art to all and achieving a culturally rich society. Since starting the public auction of fine arts in 1989, they have contributed to the proper functioning of the secondary market and cultural preservation, handling a wide array of items ranging from Western decorative art to Japanese pottery, jewelry, and more.
With over 30 auctions held annually, boasting more than 30,000 lots per year, they are recognized as one of Japan's largest auction houses, capturing a market share of 42.49% among major domestic auction firms—a testament to their position as a leader in the fine arts industry in Japan.

Overall, this auction not only set records but exemplified the profound connection between artwork and cultural heritage, establishing a beautiful narrative for future generations.